The growth of the Italian economy, 1861–1913: Preliminary second-generation estimates

Stefano Fenoaltea ()

European Review of Economic History, 2005, vol. 9, issue 3, 273-312

Abstract: This article presents new estimates of aggregate production in post-unification Italy: the first since the original Istat-Vitali estimates of some forty years ago not to recombine their component series, and to be based entirely on new research. The new 1911-price GDP series incorporates the recent Federico series for agriculture, the author's recent series for industry, and newly derived series for services that extrapolate the recent Zamagni estimates of their value added in 1911. The new time series for the 11 sectors specified by the original estimates often differ widely from their predecessors. The new aggregate yields a long-term growth rate well above that of the original series, but not as high as that of Maddison's revision. The end-of-the-century acceleration that characterised all the earlier aggregates disappears: total production followed in muted form the long swing in industrial production, which in turn reflected a simple investment cycle. The implications of the new series in the context of the ongoing debates in the literature are also briefly discussed.

Date: 2005
References: Add references at CitEc
Citations: View citations in EconPapers (48)

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:ereveh:v:9:y:2005:i:03:p:273-312_00

Access Statistics for this article

More articles in European Review of Economic History from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().